Energy experts from the
World Bank proposed a program to help Ho Chi Minh City develop solar power
systems at a meeting on Tuesday, Saigon Times reported.

Solar panels are used to
produce renewable energy at the photovoltaic park in Europe. Photo by Reuters

To start with, the bank
will work with the city to carry out an overall assessment of the benefits of
installing solar energy systems on
rooftops, provide technical support for local energy experts and find financial
resources as well as equipment suppliers to implement the program.

Last year, Vietnam’s
largest economic hub consumed about 3,575 MW of electricity, of which renewable
energy accounted for 3.96 MW, or 0.1 percent.

The city had set a
target of increasing its use of renewable energy to 1.74 percent, equivalent to
96 MW, by 2020.

To reach this goal, Ho
Chi Minh City needs the World Bank's program to be launched by 2018 at the
latest, Le Van Khoa, the city's vice mayor, has said.

Since 2015, the city has
encouraged residents and businesses to invest in solar power systems by
granting a subsidy of VND2,000 ($0.1) per kW used for domestic purposes or sold
to the national electricity grid.

The city’s Power
Corporation is searching for a pricing mechanism from the Vietnamese government
to boost the development of solar power projects.

Vietnam is aiming to
increase residential solar power usage nationwide from 4.3 percent in 2015 to
50 percent in 2050.